OPEC secures output compliance pledges from 4 producers

It did not specify how or when the countries might be required to adhere to targets agreed to by OPEC and other major producers outside the bloc.

9 August 2017 | 11:29

Source: Associated Press

  • Source: Associated Press
  • Last update: 9 August 2017 | 11:29

In this Saturday, Dec. 10, 2016 file photo, Russian Minister of Energy Alexander Novak, left, and Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia attend a news conference after a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria. (AP Photo)

DUBAI, United Arab Emirates: OPEC says a technical committee secured commitments from four oil producing countries to work to bring their production in line with previously agreed output targets.

The organization said in a statement late Tuesday that the United Arab Emirates, Iraq, Kazakhstan, and Malaysia agreed to fully cooperate with committees charged with monitoring adherence to production targets with the aim of reaching "full conformity."

The statement followed closed door talks with the countries and the technical committee that's ended Tuesday in the Emirati capital of Abu Dhabi.

It did not specify how or when the countries might be required to adhere to targets agreed to by OPEC and other major producers outside the bloc.

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